Duplicate keys, CCTV tampering: How a bank manager orchestrated Rs 53 crore heist in Karnataka

The Karnataka Police have arrested three men, including the former manager of the Canara Bank's branch in Managuli in the Vijayapura district.

The accused have been identified as Vijayakumar Miriyala, 41, and his associates Chandrashekar Nerella, 38, an employee at a private company, and Sunil Narasimhalu Moka, 40. (Express Photo)

Written by: Kiran Parashar

4 min readBengaluruJun 30, 2025 06:33 AM IST First published on: Jun 29, 2025 at 12:32 PM IST

The Karnataka Police Friday announced that they have successfully solved one of the biggest bank heists in the country, where Rs 53 crore worth of jewellery was stolen. The police have arrested three men, including a manager who had been transferred from the bank’s branch.

The accused have been identified as Vijayakumar Miriyala, 41, and his associates Chandrashekar Nerella, 38, an employee at a private company, and Sunil Narasimhalu Moka, 40. On May 25, a theft was reported at the Canara Bank in Managuli town, Vijayapura district, where 58.97 kg of gold ornaments were stolen.

Lakshman Nimbargi, Superintendent of Police, addressing the media in Vijayapura district, said the accused attempted to mislead investigators. “The case has been cracked despite creating several scenarios that diverted the investigation,” he said.

Miriyala, who worked as a manager in the Managuli town branch of Canara Bank, was transferred to the Ronihal branch in the Vijayapura district on May 9. The plan was to steal the bank only after his transfer, said the police.

The police recovered two vehicles used in the crime and 10.5 kg of gold ornaments worth an estimated Rs 10.75 crore.

Investigators also seized gold bars that were created after the stolen ornaments were melted, a strategy employed by the thieves to facilitate easier transportation and disposal of the stolen goods. The police suspect that more people were involved in the crime, and the investigation will continue to recover additional gold.

Inspired by movies, the accused, after the heist, allegedly transported their two-wheelers using a truck, ensuring their vehicles would not be traced to the crime scene (Express Photo)

According to a police officer, when the investigation began, it was suspected to be an insider job. “We found that Miriyala had provided bank keys to his co-conspirators in March-April before his transfer from the branch. The group then created duplicate keys and tested their functionality in preparation for the heist. The timing of the robbery was carefully calculated. Miriyala waited until after his transfer to execute the plan, ensuring he would not be immediately suspected,” the officer said.

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The group, according to the police, initially planned to strike on May 23, coinciding with the Royal Challengers Bengaluru-Sunrisers Hyderabad Indian Premier League (IPL) match, hoping that celebrations from fans would provide cover for their activities. However, when RCB lost the match, they postponed the operation by one day, said the police officer.

The police recovered two vehicles used in the crime and 10.5 kg of gold ornaments worth an estimated Rs 10.75 crore. (Express Photo)

The accused allegedly spent months studying and analysing the bank’s location and CCTV coverage. They also allegedly went through bank robberies that had taken place in other states. After the heist, to divert the police’s attention, they placed saffron, turmeric, and blowtorches inside the bank, hoping police would assume the perpetrators were from Tamil Nadu or Kerala, where such items are sometimes associated with robbery cases involving witchcraft, said the police.

Inspired by movies, the accused, after the heist, allegedly transported their two-wheelers using a truck, ensuring their vehicles would not be traced to the crime scene. They also allegedly manipulated the bank’s security systems, diverting CCTV cameras and cutting cables to the high-mast lighting, and took away the network video recorder (NVR) from the bank.

“Eight teams were formed to nab the accused. One of the main leads we got was the movement of a car a few hours before and after the heist. It was found that the car was registered in the name of Miriyala, and upon his interrogation, he confessed to the crime,” said the officer.